RedBird IMI and France’s Banijay agree to merge units

All3Media, a subsidiary of RedBird IMI, a US investment group backed by Abu Dhabi’s International Media Investments (IMI), will merge with the TV production business of France’s Banijay Group to create a global media company. 

The new company will be called Banijay and will be equally owned by Banijay Group and RedBird IMI.

Marco Bassetti, CEO of Banijay Entertainment, will be the CEO, while Jane Turton, CEO of All3Media, will become deputy CEO, Banijay Group said in a statement.

The agreement will generate €796 million ($923 million) in cash for Banijay Group, with cost savings expected at €50 million.

The combined group owns more than 170 labels across 25 countries and will distribute content in almost 250 territories worldwide.

Banijay will have a catalogue of more than 260,000 hours of content and will produce about 20,000 hours each year. The catalogue includes scripted, unscripted, factual and natural history programmes.

The proposed transaction is subject to regulatory approvals and is anticipated to close by the fall of 2026.

Further reading:

• UAE emerges as a force in global media mergers
• Regulation hampering UK growth, says Redbird IMI CEO
• RedBird IMI pulls out of bid for UK’s Telegraph

All3Media’s shows include The Traitors and Race Across the World, while Banijay’s portfolio includes Peaky Blinders and the Masterchef cooking show.

RedBird IMI, a joint venture between RedBird Capital Partners and IMI, acquired All3Media for £1.15 billion from Warner Bros. Discovery and Liberty Global last year. 

Shares of Banijay rose nearly 6 percent to close at €8.55 in Amsterdam Stock Exchange on Wednesday.